A quick guide to the Florida short sale process




How does the Florida short sale process work?  There's just 5 basic steps to get you from here to closing!



SELLER CONSULTATION: This is the first and most important part of the short sale process in Florida. We gather basic information about the sellers goals, situation, and lender(s), to determine whether a short sale is a viable solution to the sellers needs, and whether they would qualify for a short sale.


LIST THE HOME: After setting the proper seller expectations for the short sale and getting the home market ready, the home goes on the market. The only difference so far is that buyers will need to be aware that the sale will be subject to short sale approval process which may take a few months.

sell in preforeclosure

SECURE A BUYER: Once agreement has been reached with a buyer, the property goes under contract, the short sale package gets compiled and short sale negotiations with the lender begin. The bank holding the mortgage must agree to take a loss so that the owner can "sell short". 


GET SHORT SALE APPROVAL: During the short sale approval process several things need to happen successfully. To summarize:

  • We fully document the sellers situation to make a case for a "financial hardship".
  • The lender orders a valuation of the property to establish its current market value.
  • The lender(s) will decide to approve, decline, or counter the sale based on the results of the above, which generally leads to more negotiations over the terms of the approval.

CLOSE: Once all terms of approval have been negotiated to satisfaction, the lender(s) issue a detailed approval letter. Short sale approval letters generally expire in 30-45 days from the date of issuance, so at this point in time all parties should be prepared to close swiftly.

While all short sales are unique, this basic process applies to every one! For the best odds of success, HIRE THE RIGHT HELP!

We have specialized in short sales since 2008 and have a 95%+ approval rate!

chart pros cons short sale

We found Minna by doing an online search for short sale experienced realtors in the area. We had already moved to GA and could not sell our home. Minna and Jamie, her assistant, were very knowledgeable about the whole short sale process and made the transaction go as smoothly as could be. They  literally took care of everything for us!  


Last Updated on September 18, 2023 by Minna Reid


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